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Home Flipping Is Making a Comeback


January 4, 2017

houseflipping

Once a lucrative way of making money, house flipping is making a huge comeback, with more and more people re-joining the trend. The number of homes that had been flipped reached their highest numbers since 2007 during the first nine months of 2016. This was largely due to the increase in home prices and improved investor confidence. Flippers are now seeing profits of about $61,000, a significant increase from $19,000 in 2009, per the Wall Street Journal (WSJ).

With the boost in flipping projects, lenders are seizing the opportunity. Banks such as Wells Fargo are offering credit lines to lenders that are willing to support home flippers. About a third of these house flipping projects are being funded via debt, yet the market remains small despite the considerable surge in home flipping activity. Per the WSJ, millions of dollars worth of home flipping have successfully closed during the latter portion of 2016.

Are you eyeing any flipping projects in 2017? If so, we may be able to help you. South Florida is full of lucrative opportunities to turn a profit. Contact Blackstone International Realty to learn more about what we can do for you.

This update is presented by the Miami Beach Realtors representing Blackstone International Realty, specializing in the Continuum South Beach condominium.  If you are interested in Miami Beach condos such as the Continuum condos for sale or other condos in South Beach, call the Continuum experts at 305-588-2451 for information on sales and rentals.